MARKET DEVELOPMENT
United Plant Q3 Pre-Tax Profit Rises To RM119.57 Million
United Plant Q3 Pre-Tax Profit Rises To RM119.57 Million
24/11/2015 (Bernama) - United Plantations Bhd's pre-tax profit for the third quarter (Q3) ended Sept 30, 2015 jumped to RM119.57 million from RM96.11 million in the same quarter a year ago.
Revenue, however, fell to RM267.22 million from RM280.69 million previously.
In a filing to Bursa Malaysia the company said the better pre-tax profit was was mainly due to higher production of crude palm oil and palm kernel.
"The higher pre-tax profit is also due to a very strong performance from the refinery unit as well as the weak ringgit, it said.
It said with the current prevailing prices of palm oil and palm kernel in the market, the future will be significantly more challenging.
Revenue, however, fell to RM267.22 million from RM280.69 million previously.
In a filing to Bursa Malaysia the company said the better pre-tax profit was was mainly due to higher production of crude palm oil and palm kernel.
"The higher pre-tax profit is also due to a very strong performance from the refinery unit as well as the weak ringgit, it said.
It said with the current prevailing prices of palm oil and palm kernel in the market, the future will be significantly more challenging.